Birch Hill joins $10 mln bought deal financing of Spectral Medical
Spectral Medical Inc (TSX: EDT), a Canadian developer of treatments for endotoxemic septic shock, has closed a bought deal financing that generated gross proceeds of over $10 million. Canadian private equity firm Birch Hill Equity Partners participated in the offering, as did Toray Industries Inc. With the offering's closing, Birch Hill will own about 16 percent of Spectral's issued and outstanding shares. The company, which is based in Toronto, said it would use the proceeds to complete its sepsis-focused theranostics trial, commercialize its therapeutic hemoperfusion device, and other purposes.
18 February 2016•4 mins read
